First Independent Mena Newspaper
Egypt has increased the minimum wage in the public sector from 2,000 Egyptian pound ($101.3) to 3,000 in a move to help workers surf the increase in the cost of living, reports say. Prime Minister Mostafa Madbouly who announced the decision said the government will pay an exceptional bonus of EGP 300 for employees in […]
At least 50 companies are expected to list on the Ethiopian Stock Exchange (ESX), set to launch in two years, which will provide a platform for the privatization of the country’s state-owned enterprises. Three months ago, Ethiopia announced it was in the process of establishing a stock market signaling a window of opportunity for cross-listing. […]
Morocco may no longer issue an international bond as was planned earlier this year amid deep uncertainty and market volatility, finance minister Nadia Fettah Alaoui said. The government expects its financing needs to grow to 60 billion dirhams ($5.5 bln) next year compared with some 45 billion dirhams this year. “We will try to strike […]
The city of Agadir has made a successful issuance of Morocco’s first municipal bond of 1 billion dirhams to fund its development plan. The dirham-denominated bond sale targeted national and international institutional investors as the commune braces for a facelift. The European Bank for reconstruction and development (EBRD) has supported Agadir’s bond with an investment […]
The European Commission adopted on Tuesday a new program worth €115 million to support Morocco’s ecological, inclusive and innovative farming. Dubbed “Terre Verte”, the program aims to contribute to Morocco’s strategies “Green Generation” and “Moroccan Forests” covering the period 2020-2030 by promoting an ecological transition conducive to the creation of decent work opportunities in Morocco […]
A delegation of the International Monetary Fund (IMF) will visit Egypt in the first week of November to resume talks over a new loan agreement. Egypt and the Washington-based institution began talks for a new loan for the Middle East country in March. The Arab country has turned to the IFM for a new loan […]
Morocco plans to increase the budget for health, education and social safety nets next year but expects the budget deficit to be reduced thanks to an increase in tax revenue, reads the 2023 draft budget. The budget plans to increase in the next four years taxes on companies exceeding 100 million dirhams in annual profits. […]
The United Nations agency for Palestinian refugees (UNRWA) appealed Friday for $13 million in funding to support Palestinians in Lebanon, as the country reels from an unprecedented economic crisis. “Palestine refugees, living in overcrowded camps… are at the end of their rope,” UNRWA chief Philippe Lazzarini said in a statement, adding that “almost every Palestinian […]
Morocco’s OCP has donated Senegal 25,000 tons of phosphate products for the benefit of Senegalese small farmers. The products were handed over, Thursday in Diamniadio, 30 km from Dakar, at a ceremony attended by the Senegalese Minister of Agriculture, Rural Equipment and Food Sovereignty, Aly Ngouille Ndiaye, Director of OCP’s subsidiary in West Africa, Mohamed […]
Morocco and Germany have agreed on a €242 million cooperation program to be carried out in 2023, focusing on green energy, sustainable economy, employment and reforms. The joint program has been unveiled following talks held Oct.18-19 in Berlin between the two countries which turned a new page in their relations after resolving their diplomatic row […]